SOAR AI has secured access to up to $1 billion in equity financing to expand its network of AI data centers. The company plans to utilize these funds to develop infrastructure, starting with a project in Ohio that currently offers 154 megawatts of electrical capacity, with plans to reach 480 megawatts.
The financing arrangement with an institutional investor allows the company to sell shares over time, though it is not obligated to draw the full amount. The agreement includes strict limitations: daily sales are capped at $6 million and cannot exceed 10% of the average trading volume. The investor is also prohibited from short-selling or hedging the shares.
This capital injection follows the signing of contracts totaling approximately $1.17 billion with a large AI customer. These agreements involve the deployment of AMD GPU clusters, with the first phase using MI355X chips starting December 31, 2026, and the second phase using MI455X chips beginning June 30, 2027.
The company, formerly known as Volato Group, is undergoing a corporate rebranding to SOAR AI, Inc., which is expected to take effect on October 19. The firm is currently evaluating additional industrial properties across the United States and overseas to house its high-performance computing infrastructure.
